I am buying a newly constructed apartment in Chelsfield and my lawyer is informing me that she is duty bound to the mortgage company to reveal incentives from the developer. The Estate Agents are hassling me to exchange and I don't want to delay matters. Is my lawyer right?
You should not exchange unless you have been advised to do so by your solicitor. A precondition to being on a lender panel is to comply with the UK Finance Lenders’ Handbook conditions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
I own a freehold house in Chelsfield but nevertheless invoiced for rent, why is this and what is this?
It’s unusual for properties in Chelsfield and has limited impact for conveyancing in Chelsfield but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges have existed for hundreds of years, but the Rent Charge Act 1977 barred the generation of fresh rentcharges post 1977.
Old rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence after 2037 is to be dispensed with completely.
I'm purchasing a new build house in Chelsfield with the aid of help to buy. The developers refused to move on the amount so I negotiated five thousand pounds worth of extras instead. The sale representative suggested that I not to tell my solicitor about the side-deal as it will put at risk my loan with the lender. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I opted to have a survey carried out on a house in Chelsfield prior to appointing lawyers. I have been informed that there is a flying freehold aspect to the house. Our surveyor advised that some banks may refuse to grant a loan on a flying freehold property.
It depends who your proposed lender is. HSBC has different requirements for example to Birmingham Midshires. Should you wish to call us we can investigate further via the relevant bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Chelsfield. Conveyancing may be slightly more expensive based on your lender's requirements.
What tools are available to identify a Chelsfield law firm on the Nottingham Building Society conveyancing panel? I drive a motor bike and am willing to travel upto 20miles to meet the conveyancer.
Feel free to make use of the tool on this website. Please choose the bank and your location and you will see a number of Chelsfield conveyancing lawyers locally. We have listed some Chelsfield conveyancing firms at the bottom of this page and you can call them to verify if they are on the Nottingham Building Society approved list
I have recently realised that I have Sixty One years remaining on my flat in Chelsfield. I need to extend my lease but my landlord is can not be found. What options are available to me?
On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the magistrate. However, you will be required to demonstrate that you or your lawyers have used your best endeavours to find the freeholder. For most situations an enquiry agent should be useful to conduct investigations and to produce a report which can be accepted by the court as proof that the freeholder is indeed missing. It is advisable to get professional help from a property lawyer in relation to devolving into the landlord’s disappearance and the application to the County Court overseeing Chelsfield.
I have attempted and failed to negotiate with my landlord to extend my lease without any joy. Can the Leasehold Valuation Tribunal decide on such matters? Can you recommend a Chelsfield conveyancing firm to represent me?
if there is a missing landlord or where there is disagreement about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the Leasehold Valuation Tribunal to calculate the sum to be paid.
An example of a Lease Extension matter before the tribunal for a Chelsfield residence is 1 Southlands Court Southlands Road in September 2013. The Leasehold Valuation Tribunal determined that the premium to be paid by the tenant on the grant of a new lease, in accordance with section 56 and Schedule 13 of the Leasehold Reform, Housing and Urban Development Act 1993 was £30,541 This case affected 1 flat. The unexpired term was 50.57 years.